A Bargain at Half the Price

Liberals are already crowing about the "low" cost of health insurance policies for young people in the California ObamaCare Insurance Exchange. The problem is that the "low" rates are actually phenomenally high when you realize that they are compulsory.
If you go to the California ObamaCare website, you'll see that a 24-year-old single person earning $35,000 will pay $230/month, which is $2,760/year, or roughly 8.6% of his pretax income.
Therefore, for those young people who were eschewing insurance, these "low" rates correspond to a pay cut of more than 8.6%.
Even worse, the $230 is not cheap compared to currently available private offerings. If you go to the eHealthInsurance website -- note this is not an endorsement of eHealthInsurance; they were just used as a quick way to get currently available policy rates -- you'll find 52 offerings ranging from $95 to $368 a month, with an average price of $190/month, which is 21% less than the "low" ObamaCare cost. Of the...(Read Full Post)